2020 was a game-changer for businesses globally. Businesses were confronted with the harsh reality of a global pandemic.
The difference between businesses that succeeded and those that didn’t lay in their ability to understand their customer needs quickly and adapt. The question that is still on everyone’s mind is how their brands can stay relevant to their customers.
A report from Nigeria’s Statistics Bureau showed that the economy contracted by 6.1% year on year by Quarter 2 of 2020 alone. This decline is Nigeria’s steepest recorded in the past decade.
In addition, a report by The International Food Policy Research Institute (IFPRI) showed that during the lockdown periods, Nigeria’s GDP dropped by 34.1 percent, amounting to USD 16 billion.
The reality of these figures proves that consumers’ wallets are even more constrained in 2021. Fighting for a share of the consumer wallet will require a major shift in strategies and an even deeper understanding of the dynamic customers’ ever-shifting needs.
Even as Nigerian businesses continue to embrace digital transformation to stay ahead, there is still a need to establish deeper connections with customers.
Ajua, Africa’s first Integrated Customer Experience company gives businesses real-time visibility of their customer journey, enabling businesses to make strategic adjustments and take action where it matters most to them.
There is a direct correlation between companies that execute on their customer experience programs and how much their customers are willing to spend. More-so companies that are able to take a holistic integrated approach to map their customer journey’s tend to have a higher Customer Lifetime Value. According to a report by PWC, 86% of buyers are willing to pay more for a great customer experience.
Ajua which has operations in Nigeria, Kenya and the Caribbean recently announced the appointment of Tayo Ashiruas the Country Head of Nigeria.
Tayo shared, “The biggest risk to businesses post-COVID is failing to meet revenue expectations due to churned customers among other factors.”
He emphasizes the need for businesses to have a strong understanding of who their customers are and what their expectations are.
Tayo added, “Having a digital customer experience strategy enables businesses to receive this information on a continuous basis in real-time.”
